Infact partners with Percayso Inform to bring real-time risk signals to the insurance market

• Infact's Affordability, Credit Risk, Identity and Fraud products are now available to insurers, MGAs and brokers through the Percayso Inform Intelligence Hub.
• The partnership arrives as the FCA presses insurers to demonstrate fair value under Consumer Duty

‍Infact, the bureau for real-time risk signals, has partnered with Percayso Inform to bring affordability, credit risk, identity and fraud data to the UK insurance market. Through the Percayso Inform Intelligence Hub, MGAs, brokers and other insurance providers can now access Infact's products at a time when the sector is under growing pressure to understand customers' financial circumstances more accurately.

The partnership comes as the insurance sector navigates the FCA's expectations under Consumer Duty. With nearly half of motor and home policies paid monthly, premium finance is now a major part of the market, and firms are under increasing pressure to evidence affordability, fair value and good customer outcomes.

Infact's Affordability product is built for this challenge. It combines multiple data sources into a single assessment to give insurers a personalised view of an individual applicant's estimated income and cost of living, without the friction of asking the customer for more information. The result is affordability assessment at the individual level, delivered through a single modern API. For insurers, MGAs and brokers, that means quoting on data that reflects the customer’s circumstances and supporting more informed affordability assessments.

Through the Percayso Inform Intelligence Hub, insurers, MGAs and brokers can now access Infact's product suite through a single embedded gateway, helping them verify identity and address, assess affordability, and run credit and fraud checks. Infact ingests reported data within 24 hours, so firms can act on real-time risk signals at the point of quote and for ongoing customer management.

Chris Traill, Client Director at Percayso Inform, said:

Percayso Inform seeks to find and partner with cutting-edge data sources to help its clients achieve the best and most accurate results possible. Percayso selected Infact as it is an innovative credit bureau delivering high quality affordability, credit risk, fraud and identity data, ideal for making informed, intelligent risk decisions.

By quickly identifying changes in an insurance customer's circumstances using real-time data, this partnership presents a solution to insurers, MGAs and brokers under pressure to provide affordable and fair value policies to their customers. Furthermore, with the rising risk of fraud, our clients can now be reassured they are getting the most accurate and timely information to make their decisions.

James Bryce-Lind, VP Commercial at Infact, added:

Insurers and intermediaries are being asked to stand behind affordability and fair value like never before, and the data most of the market relies on simply was not built for that. It is too slow and too far out of date. We built Infact to give firms a real-time, accurate view of a consumer's financial position, and bringing that into the insurance market through Percayso Inform is a natural next step for us.

Percayso has built something genuinely useful in the hub, and partnering with them lets us serve a whole new set of firms who are navigating real, regulatory and commercial pressure. It is a clear example of how the right data, delivered at the right moment, helps firms make better decisions and treat customers better.

About Infact

Infact is the bureau for real-time risk signals. Its products, Affordability, Credit Risk, Identity and Fraud, give firms a current and accurate view of a consumer's financial position through a single modern API, helping them make better decisions and deliver better outcomes. Infact Systems Limited is authorised and regulated by the Financial Conduct Authority (FRN: 978629).

About Percayso Inform

Percayso Inform delivers award-winning insurance data intelligence in real time, across every stage of the insurance lifecycle. Built on a unique dataset of over 25 million monthly UK insurance quotes, Percayso Inform gives insurers, brokers and MGAs an unrivalled view of their customers, risk and fraud. Part of the Percayso group of data intelligence companies.